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Varda raises $250 million at $1.6 billion valuation to scale orbital drug manufacturing

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In-space manufacturing startup Varda Space has closed a two-hundred-fifty-million-dollar Series D funding round at a one-point-six-billion-dollar valuation, as announced by the company. Led by Lux Capital and Natural Capital, the latest financing brings Varda's total capital raised to five-hundred-ninety-eight million dollars since its founding in 2021. Based in El Segundo, California, Varda develops uncrewed space capsules designed to function as microgravity orbital laboratories for pharmaceutical development and commercial material processing. The company has deployed six missions to orbit using its W-Series capsules, with five successfully returning to Earth. Varda plans to launch two capsules simultaneously on an upcoming SpaceX Falcon 9 rideshare mission, carrying hypersonic research payloads for the Pentagon and commercial clients. While about seventy percent of current payload customers are government-related, the firm aims to transition toward commercial pharmaceutical production, targeting human clinical trials of space-manufactured formulations near the end of the decade.

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